India’s IT&BPM sector drives digital transformation, innovation and economic growth, fueled by skilled talent, government initiatives and disruptive technologies
$254 Bn
Estimated revenue of India’s technology industry, including hardware, in FY24, an addition of $9 Bn over last year
10%
Contribution to the country’s GDP by 2025 by India’s technology sector
31,000+
Total number of tech start-ups with cumulative funding of over $70 Bn since 2019
At the forefront of India’s economic landscape stands the Information Technology and Business Process Management (IT&BPM) sector, a dynamic force that has emerged as a cornerstone of the nation’s digital transformation. Bolstered by a convergence of factors, this sector has garnered significant attention for its pivotal role in driving innovation, fostering economic growth and generating employment opportunities. Reports from the Ministry of Electronics and Information Technology (MeitY) and Nasscom underscore the sector’s robust growth trajectory, underpinned by advancements in disruptive technologies such as artificial intelligence, cloud computing and blockchain.
Central to India’s competitive advantage is its vast pool of skilled talent, supported by a thriving ecosystem of educational institutions and specialized training programs. Government initiatives aimed at enhancing digital literacy, infrastructure development and policy reforms have further propelled the sector forward. Against the backdrop of a rapidly evolving digital landscape, the IT&BPM sector continues to serve as a catalyst for digital inclusion and socio-economic progress.
As India strives to position itself as a global technology hub, the sector’s dynamism, innovation and strategic significance have made it a focal point for investment, collaboration and talent development. With a forward-looking approach and a commitment to harnessing digital potential, India’s IT&BPM sector is poised to shape the future of the digital economy, both domestically and on the global stage.
The domestic technology sector registered an annual revenue of $54 Bn in FY24, growing at 5.4% annually.
Innovation and R&D Prowess
India’s cities offer significant cost savings in terms of cost per FTE, cost of living and average office rent, as compared to alternatives like Beijing, Manila, Singapore and Kuala Lumpur.
India boasts a technology workforce of 5.43 Mn, out of which 2 Mn are digitally skilled.